Private Advisory Group LLC Sells 1,020 Shares of Alamo Group Inc. (NYSE:ALG)

by · The Cerbat Gem

Private Advisory Group LLC lessened its stake in shares of Alamo Group Inc. (NYSE:ALG – Free Report) by 34.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,900 shares of the industrial products company’s stock after selling 1,020 shares during the quarter. Private Advisory Group LLC’s holdings in Alamo Group were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ALG. Contravisory Investment Management Inc. raised its position in Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Alamo Group by 174.7% in the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 159 shares during the period. Quarry LP acquired a new position in Alamo Group in the second quarter valued at about $48,000. Bessemer Group Inc. grew its stake in Alamo Group by 1,885.7% in the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 264 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Alamo Group in the second quarter valued at about $48,000. Institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

Alamo Group stock opened at $177.05 on Friday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 16.76 and a beta of 1.06. Alamo Group Inc. has a 52-week low of $157.74 and a 52-week high of $231.40. The stock’s 50 day moving average price is $177.13 and its two-hundred day moving average price is $187.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37.

Alamo Group (NYSE:ALG – Get Free Report) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The firm had revenue of $416.30 million for the quarter. Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. During the same quarter last year, the firm earned $3.03 earnings per share. On average, equities analysts predict that Alamo Group Inc. will post 10.23 earnings per share for the current year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.59%. Alamo Group’s payout ratio is 9.85%.

Insider Transactions at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the transaction, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the sale, the executive vice president now owns 11,061 shares of the company’s stock, valued at $2,005,138.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the transaction, the executive vice president now directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALG. DA Davidson boosted their price target on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Robert W. Baird lowered their target price on Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd.

Check Out Our Latest Report on ALG

About Alamo Group

(Free Report)

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.

Further Reading

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